Bosnia's EPBiH Q1 Net Profit at 5.4 Mln Euro Output at 1,845 GWh

Bosnian power utility Elektroprivreda BiH [SAJ:JPESR] said on Friday it posted a net profit of 10.6 million marka ($6.1 million/5.4 million euro) in the first quarter of 2015.

Operating revenues reached 245.6 million marka through March, a spokesperson forElektroprivreda BiH (EPBiH) told SeeNews in an email.

In the first quarter of 2015, the company generated 1,845 GWh of electricity which is slightly less than 90% of the planned volumes, mainly due to coal undersupply caused by ongoing repairs at coal mining facilities damaged by last year’s floods, EPBiH said.

Earlier this year, EPBiH told SeeNews that it plans to raise electricity output by 3.3% to 7,651 GWh in 2015, due to expected shorter downtime at its thermal power plants for regular overhauls.

EPBiH's net profit plunged to 3.2 million marka in 2014 from 37 million marka a year earlier while its electricity output fell 0.9% to 7,403.6 GWh.

The record floods that hit Bosnia in May last year are estimated to have cost it around 15% of gross domestic product.

EPBiH operates in the Muslim-Croat Federation, one of the two autonomous entities making up Bosnia and Herzegovina. The other one is the Serb Republic. It is the biggest of Bosnia’s three power utilities.

SEENews